Bitget App
Trade smarter
Buy cryptoMarketsTradeFuturesEarnSquareMore
Forward Industries acquires and stakes 6.8 million Solana tokens

Forward Industries acquires and stakes 6.8 million Solana tokens

CryptoSlateCryptoSlate2025/09/15 10:01
By:Oluwapelumi Adejumo

Forward Industries (FORD) announced on Sept. 15  that it has acquired and staked more than 6.8 million SOL tokens for its Solana Treasury Strategy.

Despite the scale of the acquisition, the impact has yet to show up in FORD’s share price. According to Google Finance data, the stock is down more than 2% to $33.51 as of press time.

Still, data from CoinGecko shows that the move has elevated FORD above all other corporate treasuries holding Solana.

Its 6.8 million SOL stack exceeds the combined holdings of DeFi Development Corp., Upexi, and Sharp Technology, which each control roughly 2 million SOL.

FORD Solana purchases

According to the announcement, the SOL tokens were acquired at an average purchase price of $232 per token, bringing the total investment to about $1.58 billion.

Backed by Galaxy Digital, Jump Crypto, and Multicoin Capital, FORD emphasized that this move signals the start of a long-term plan to capture value from what it views as one of the fastest-growing blockchain ecosystems.

Kyle Samani, chairman of FORD’s board, explained that the purchase was not just a balance sheet expansion but a deliberate strategy to “advance the Solana ecosystem and deliver long-term value for our shareholders.”

He added:

“Today’s purchase marks a significant milestone as Forward Industries begins executing its differentiated Solana treasury strategy, built to benefit from one of the fastest growing and most profitable blockchain networks.”

Meanwhile, the company emphasized that its SOL purchases were “non-locked SOL [that were acquired] through a combination of open market purchases and on-chain transactions.” This marks the first use of proceeds from its recently closed $1.65 billion private investment in public equity (PIPE) financing round.

Notably, several on-chain analysis platforms, including Lookonchain, had reported that the asset management firm Galaxy Digital had gone on a five-day buying spree of 6.5 million SOL tokens for $1.5 billion.

The company also highlighted one particular transaction: a $1 million trade executed via DFlow, a Solana-based decentralized exchange aggregator.

That deal, it said, represents the first of many expected on-chain deployments, demonstrating its flexibility to operate across multiple venues rather than rely solely on traditional markets.

The post Forward Industries acquires and stakes 6.8 million Solana tokens appeared first on CryptoSlate.

0

Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

PoolX: Earn new token airdrops
Lock your assets and earn 10%+ APR
Lock now!

You may also like

$8.8 billion outflow countdown: MSTR is becoming the abandoned child of global index funds

The final result will be revealed on January 15, 2026, and the market has already started to vote with its feet.

深潮2025/11/22 11:59
$8.8 billion outflow countdown: MSTR is becoming the abandoned child of global index funds

Deconstructing DAT: Beyond mNAV, How to Identify "Real vs. Fake HODLing"?

There is only one iron rule for investing in DAT: ignore premium bubbles and only invest in those with a genuine flywheel of continuously increasing "crypto per share."

BlockBeats2025/11/22 11:24
Deconstructing DAT: Beyond mNAV, How to Identify "Real vs. Fake HODLing"?

Empowered by AI Avatars, How Does TwinX Create Immersive Interaction and a Value Closed Loop?

1. **Challenges in the Creator Economy**: Web2 content platforms suffer from issues such as opaque algorithms, non-transparent distribution, unclear commission rates, and high costs for fan migration, making it difficult for creators to control their own data and earnings. 2. **Integration of AI and Web3**: The development of AI technology, especially AI Avatar technology, combined with Web3's exploration of the creator economy, offers new solutions aimed at breaking the control of centralized platforms and reconstructing content production and value distribution. 3. **Positioning of the TwinX Platform**: TwinX is an AI-driven Web3 short video social platform that aims to reconstruct content, interaction, and value distribution through AI avatars, immersive interactions, and a decentralized value system, enabling creators to own their data and income. 4. **Core Features of TwinX**: These include AI avatar technology, which allows creators to generate a learnable, configurable, and sustainably operable "second persona", as well as a closed-loop commercialization pathway that integrates content creation, interaction, and monetization. 5. **Web3 Characteristics**: TwinX embodies the assetization and co-governance features of Web3. It utilizes blockchain to confirm and record interactive behaviors, turning user activities into traceable assets, and enables participants to engage in platform governance through tokens, thus integrating the creator economy with community governance.

BlockBeats2025/11/22 11:23
Empowered by AI Avatars, How Does TwinX Create Immersive Interaction and a Value Closed Loop?

Aster CEO explains in detail the vision of Aster privacy L1 chain, reshaping the decentralized trading experience

Aster is set to launch a privacy-focused Layer 1 (L1) public chain, along with detailed plans for token empowerment, global market expansion, and liquidity strategies.

BlockBeats2025/11/22 11:22
Aster CEO explains in detail the vision of Aster privacy L1 chain, reshaping the decentralized trading experience